McAfee Sets Terms of IPO, Hoping to Raise up to $682 Million

McAfee Corp., the cybersecurity company founded by tech eccentric John McAfee, has set the terms for its initial public offering, hoping to raise as much as $682 million in a deal that could value the company at $3.64 billion.

McAfee, based in San Jose, plans to sell 37 million shares at a price of $19 to $22 each. The stock will trade on Nasdaq, with the ticker symbol MCFE, the company said in an SEC filing.

Of the 37 million shares, 30,982,558 will come from the company and 6,017,442 from existing stockholders. McAfee expects to have 165.44 million Class A shares outstanding after the IPO.

In the six months through June 27, McAfee posted profit of $31 million, swinging from a loss of $146 million in the year-earlier period. Revenue rose 9% to $1.4 billion from $1.29 billion.

John McAfee founded McAfee Associates in 1987 and ran it until 1994,

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Eargo Proposes Terms For $100 Million IPO

Eargo (EAR) aims to raise $100 million in an IPO of its common stock, according to an S-1 registration statement.

San Jose, California-based Eargo was founded to develop modern hearing aid products that can be worn in the ear in a virtually invisible manner, reducing the stigma of hearing loss treatments.

Management is headed by president and CEO Christian Gormsen, who has been with the firm since 2014 and was previously at GN Group, an intelligent audio solutions company.

Below is a brief video of Eargo’s product commercial:

Source: Eargo

The company’s primary offering is its Neo HiFi in ear hearing aid.

Eargo has received at least $153 million from investors including New Enterprise Associates, Maveron, Future Fund, Pivotal Alpha, Cooperative Glide Healthcare, Longitude Venture Partners and The Charles and Helen Schwab Living Trust.

The company markets its hearing aid directly to consumers via online and offline media and a

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Future City: Inside Opendoor’s IPO prospectus, an apartment startup that wants you to “swipe right”


Opendoor’s open book

Since announcing plans to go public with a SPAC, Opendoor’s been offering potential investors a peek under the hood. Last week’s 650-page prospectus gave an unvarnished account of its financials, including nearly $1 billion in losses since 2013.

The filing also shined a light on the volatility of this year’s business: The company lost $118 million on nearly $2 billion of revenue during the first half of 2020. By comparison, it lost $158 million on $2.7 billion in revenue during the same period last year.

Opendoor’s deal with Chamath Palihapitiya’s blank-check company, Social Capital Hedosophia Holdings II, values the iBuyer at $4.8 billion and will give Opendoor $1 billion in new cash. Proceeds include $600 million through a PIPE, or private investment in public equity.

Here’s what else you need to know about the offering:

SoftBank’s stake. The firm invested $400 million in 2018 and will hold

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Hong Kong IPO Boom Set to Continue, Led by Technology Companies

(Bloomberg) — Hong Kong’s boom in initial public offerings is set to be prolonged as companies given a boost by the pandemic outbreak follow China’s technology giants in selling shares, the bourse’s head of listings said.



a person sitting on a bench in front of a body of water: Views of Hong Kong as China Law to Establish 'Red Lines' for the City, Adviser Says


© Bloomberg
Views of Hong Kong as China Law to Establish ‘Red Lines’ for the City, Adviser Says

Companies from the technology and biotechnology sectors could continue to fill the IPO pipeline in the near future as Covid-19 has boosted investments in research and development, Hong Kong Exchanges & Clearing Ltd.’s Head of Listing Bonnie Chan said in an interview on Friday.

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“We thought 2020 would be a disappointment, but it has turned out to be a busy year,” Chan, 50, said. “I believe the IPO rush will continue.”

Hong Kong this year has seen a rush of listings from Chinese companies including JD.com Inc. and Netease Inc., which are selling shares

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Technology-focused SPAC Carney Technology Acquisition II files for a $350 million IPO

Carney Technology Acquisition II, a blank check company targeting the technology industry, filed on Friday with the SEC to raise up to $350 million in an initial public offering.

The Burlingame, CA-based company plans to raise $350 million by offering 35 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable $11.50. At the proposed deal size, Carney Technology Acquisition II would command a market value of $447 million.

The company is led by CEO, CFO, and Chairman David Roberson, who most recently served as SVP of Enterprise Servers, Storage and Networking at Hewlett-Packard, and Chief Acquisition Officer Lloyd Carney, who previously founded SPAC ChaSerg Technology Acquisition and served as CEO until its business combination with Grid Dynamics Holdings (GDYN; -11% from $10 offer price) in March of this year. Carney Technology Acquisition II plans to target technology companies

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U.S. should try to delay IPO of China’s Ant Group, Senator Rubio says

By Alexandra Alper

WASHINGTON (Reuters) – Senator Marco Rubio, who has successfully urged the Trump administration to pursue investigations of Chinese companies, called on Friday for the U.S. government to consider options to delay an initial public offering of China’s Ant Group, the fintech arm of Chinese e-commerce giant Alibaba.

“It’s outrageous that Wall Street is rewarding the Chinese Communist Party’s blatant crackdown on Hong Kong’s freedom and autonomy by orchestrating Ant Group’s IPO on the Hong Kong and Shanghai stock exchanges,” Rubio, a Republican, said in a statement to Reuters.

“The Administration should take a serious look at the options available to delay Ant Group’s IPO,” he added.

The Hong Kong leg of the IPO, part of a dual listing in Shanghai and Hong Kong, is being sponsored by China International Capital Corp, Citigroup, JPMorgan and Morgan Stanley. Credit Suisse is working as a joint global coordinator. Goldman Sachs

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Wunong Net Technology Seeks $37 Million U.S. IPO (Pending:WNW)

Quick Take

Wunong Net Technology Company (WNW) has filed to raise $37 million in an IPO of its ordinary shares, according to an F-1 registration statement.

The firm sells food products via its website connecting food producers with consumers.

WNW has seen a sharp revenue growth slowdown due to the Covid-19 pandemic, so continued uncertainties lead me to stay on the sidelines for the IPO.

Company and Technology

Shenzhen, China-based Wunong was founded to create a food marketplace website that sells agriculture products to a variety of end users such as consumers, restaurants, lodging facilities and others.

More recently, management has opened a restaurant and seeks to create a franchise business model, with agreements signed for 25 restaurants in the Shenzhen area.

The restaurant initiative has been delayed due to the Covid-19 pandemic but management plans to actively deploy its ‘restaurant expansion and franchising plans beginning the third quarter of

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Wunong Net Technology Aims For $37 Million U.S. IPO

Wunong Net Technology Company (WNW) aims to raise $37 million in an IPO of its ordinary shares, according to an F-1 registration statement.

Shenzhen, China-based Wunong was founded to create a food marketplace website that sells agriculture products to a variety of end users such as consumers, restaurants, lodging facilities and others.

More recently, management has opened a restaurant and seeks to create a franchise business model, with agreements signed for 25 restaurants in the Shenzhen area.

The restaurant initiative has been delayed due to the Covid-19 pandemic but management plans to actively deploy its ‘restaurant expansion and franchising plans beginning the third quarter of 2020.’

Management is headed by Chief Executive Officer Mr. Xiangang Qin, who was previously an agriculture and related products technology specialist.

Wunong has received at least $1 million from investors including Union International Company Limited, Kindness Global, Four Dimensions Global, Wisdom Global, Soaring International, Morning

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Codiak BioSciences Puts Finishing Touches On $83 Million IPO

Codiak BioSciences (CDAK) has filed to raise $82.5 million from the sale of its common stock in an IPO, according to an amended registration statement.

Cambridge, Massachusetts-based Codiak Biosciences was founded in 2015 to develop new exosome-based allogeneic therapies – “therapies derived from human cells that can be used in any patient.”

Management is headed by President, CEO and Director Douglas E. Williams, who has been with the firm since its inception and was previously Executive Vice President Research and Development at Biogen.

Codiak has developed the engEx Platform, a proprietary platform for the engineering and manufacturing of exosomes with “intentionally chosen properties, to incorporate various types of biologically active molecules, including small molecules, nucleic acids, proteins, antibodies, enzymes, cytokines and complex ligands, and to be directed to specific cell types and tissues.”

Management believes engEx to be easily expandable to support siRNA, miRNA, mRNA, ASO and CRISPR, “to engage

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AppLovin hires Morgan Stanley to lead IPO

A man plays a game on a smartphone.

Brent Levin | Bloomberg | Getty Images

AppLovin, the U.S. mobile app and gaming company backed by private equity firm KKR, has hired Morgan Stanley to lead preparations for an initial public offering (IPO) which could come early in 2021, according to people familiar with the matter.

The company has flirted with the idea of an IPO for years, but had never taken a concrete preparatory step. It is the latest mobile gaming startup to eye a stock market listing, as demand for video games surges among consumers staying at home during the COVID-19 pandemic.

The sources requested anonymity because the IPO preparations are confidential and cautioned that the plans are subject to market conditions.

“Today gaming is a fractured, fragmented market. I think the market will consolidate, and I think AppLovin will be one of those consolidators,” Ted Oberwager, a managing

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